HAS YOUR KYC STATUS CHANGED?
Here’s what you need to know.
WHAT IS THE CHANGE FROM 1ST APRIL 2024?
SEBI vide circular SEBI/HO/MIRSD/FATF/P/CIR/2023/0144 dated 11th August 2023, as a risk management framework advised that KYC Registration Agencies (KRAs) shall verify the following attributes of KYC:
PAN (including PAN Aadhaar linkage, as referred to in rule 114 AAA of the Income Tax Rules, 1962)
Name
Address
Client’s Mobile Number and EmailID
The records of those clients in respect of which all the above attributes are verified by KRAs with an official database (such as the Income Tax database on PAN, Aadhaar XML/DigiLocker/M-Aadhaar) shall be considered as validated records.